Complaint Review: Eric Day - North Carolina

The complaint against Eric Day and/or Legacy Funds is a hoax and a rant from someone having trouble honoring clear, pre-disclosed conditions.

First of all, we do offer approvals or "conditional approvals" and we do not “set up impossible conditions”. Standard conditions are provided for the clients’ review well in advance of their acceptance of the pre-disclosed conditions and Agreement to remit retainer and proceed. The conditions did not change and they are all provided in advance for review and acceptance before we proceed. The fact that the client had to forfeit retainer is indeed 100% their fault.

The signing clients failed to provide the requested documents within the Agreed time frame allotted as which caused them to fall out of contract and wasted our time. The clients were made to honor what they signed and the foolish individual who had the audacity to type libelous rhetoric against our company is obviously attempting to be persuasive and defamatory by willfully ignoring what was clearly provided in writing, reviewed and signed and he will be dealt with accordingly.

There was no “rip off” to the signing clients, however, the signing clients actually did “rip off” our time and efforts which were expended on their behalf.

The conditions listed for the client were all pre-disclosed, standard requirements in the lending industry and they are not at all “impossible conditions”. The clients signed an Agreement stating that they would have all requested documents provided within 10 business days or they would forfeit the retainer. Guess what actually happened…..the clients failed to provide at least 3 of the documents within 10 business days and they had to therefore honor what they signed and did forfeit the retainer. They had several business days to review the documentation check list and make sure that they would be able to honor what they signed well before they signed. If they had doubts in their ability to comply with the requirements, they should have either made that known for adjustments prior to signing or not signed and engaged our efforts at all. The conditions were standard and easy and far from “impossible”. Using adolescent wording does not make something true. The poster of the audacious attempt to defame me and my company is obviously a fool with no honor and blatant disregard for what is in writing and signed.

Our conditions are standard and are provided in single list format to each and every client to allow their review and acceptance well in advance before they sign in Agreement that they will be able to provide the requested items.

Examples: The signature date of acceptance and Agreement for this particular loan file was April 16, 2018. Receipt of an item for to satisfy an "impossible" condition called "Management Team Resumes of Experience" was not remitted/received from the client for this loan file until May 11, 2018 even though the client signed in Agreement to have that condition remitted to us within 10 business days. (Page 2 of the Agreement which the client signed literally states, "Client agrees to provide all requested documents within 10 business days of request.") (The statement provided directly above the check list on page 1 literally states, "Our obligations are subject to satisfactory review of the following items:") Also, the "impossible" condition called "Copy of Intended Use of Funds With Estimated Phases and Draw Schedule" was not remitted/received with the actual schedule dates for this file until May 14, 2018. Although they were later remedied, the PSA was received with signatures missing, the loan amount requested did not match the use of funds totals, the "remedied' document received on 5/14/2018 did not even provide the total cost in the section, etc.. There are 3 stipulation check list items that were never received for this file at all. If a client needs revision to the check list or the allotted time frame for remittance/receipt of items, they let me know ahead of time - before they sign, retain and proceed.

Anyone whom attempts to complain or even insinuate that the conditions are "impossible" after they have signed in Agreement to provide them within the time allotted is clearly a fool.

 Quite simply and very obviously, If you think that the conditions are "impossible" for you..... then do not sign an Agreement stating that you will have the items provided to us within 10 business days and remit the retainer in full disclosed knowledge that it will be nonrefundable if you do not remit the stipulation item within 10 business days. Imagine that!

The foolish poster of the libelous nonsense knows full well that the client did not remit the pre-disclosed stipulations within the time allotted and that the client signed in acknowledgement and Agreement that the retainer is nonrefundable in that case, yet this foolish post against our company was typed anyway.

That clearly means #1 that there was never a "rip off" and #2 I am now within my legal right to have the poster of the foolish/ignorant libelous rhetoric (frivolous allegation) thoroughly "spanked" by attorney for libel, attempted defamation of character, etc..

If I am a “smooth operator” for making sure that clients do not waste my or our lenders’ time and honor what they sign; that is better than being a fool whom posts libelous rhetoric on behalf of those who do not have the integrity to honor what they sign or accept when they are entirely at fault for loss.

Breech of contract is not permitted by me/my company and the client should know full well that there is no refund due by way of simple review of the terms and conditions of the Agreement to which they signed and comparison of the signature date to actual remittance of the pre-disclosed items.

I/my company has been in the loan origination business successfully since 2005. I do not maintain a separate brick and mortar location or address for my company because I do not have to. (As many, many other legitimate loan originators and brokers know full well.) Also, I make it abundantly clear that the funded projects provided on the reference list are projects funded by our network and not solely by my office. It is a 17 page reference list. Some are many years old and whether one can locate them all is not the purpose of the list nor my concern. Our Agreements do not state nor imply that I/my company is under any obligation to provide a loan as it literally states, "Please understand that this is not a guarantee of rate, amount or to fund a loan." very clearly in the Acknowledgements section on page 2. There is not anyone whom can read and sign our business Agreement and then factually claim that I ripped them off.

This particular loan file/client was obviously problematic throughout my experience in trying to remedy their abundant loan request file issues. Due to their noncompliance with pre-disclosed timelines and documents, this loan file resulted in a forfeit of retainer from the client. Just like attorneys practices/firms require retainers and yet do not guarantee a win will loan result from their efforts, my loan origination company does also require retainers and does not guarantee a loan will result from our efforts. The only thing that is actually guaranteed on our Agreements is the clients' compliance and agreement to provide the check list stipulation items within the time frame allotted to each loan request file or forfeit of retainer will be the result. Possible forfeit of retainer is disclosed in the Agreement and such is Agreed to by way of client signature. It is NOT a "rip off" at all, it is called cooperation or compensation. Obviously, we do not set up "impossible" conditions and our Agreements are adhere to and are upheld by contract law.

The poster of the ignorant rhetoric attempted an attack against what is actually in writing and Agreed to by way of client signatures is clearly displaying willful ignorance and blatant disregard for what is provided in writing and signed to. There has never been a "rip off" done by me or my company to anyone.

The signing clients for this loan file were a 20 year old novice loan originator and a military veteran house builder. I am also a military veteran so I will reserve integrity and not outright identify and defame the signing clients for this particular loan file.

The malicious poster has also tried to insult me and attack my morals while making a false claim that I am in a scam business when it is easily shown that there was never any “rip off” other than the time and efforts which the noncompliant client ripped off from me. I have taken a screen shot of this web page and will now use it against him.